Hanover Insurance Group News

Massachusetts Court Reverses Ruling in Rotten Seafood Coverage Dispute

The Massachusetts Appeals Court has reversed a lower court’s ruling in a case examining whether damage to scallops at a seafood processing facility, when the cause of damage is unknown, constitutes an occurrence within a commercial general liability (CGL) policy. …

Hanover Insurance Restructures Agency Business; Eyes Specialty Expansion

The Hanover Insurance Group Inc. is making some organizational changes as it implements what its CEO calls its “go-forward business strategy, Hanover 2021” that is focused on growing responsibly, managing volatility and generating strong returns for shareholders. Joseph M. Zubretsky, …

The Hanover Appoints Fowle as CEO of Chaucer Syndicates, Succeeding Slabbert

The Hanover Insurance Group Inc. announced that John Fowle has been promoted to chief executive officer of Chaucer Syndicates Ltd. Fowle is replacing Johan Slabbert, who is leaving the company to pursue other opportunities. Fowle has held key leadership roles …

Hanover Launches Pay-As-You-Go Workers’ Comp Coverage

The Hanover Insurance Group, Inc. has launched a pay-as-you-go option for workers’ compensation policies that allows insureds to pay their premiums in real-time, based on payroll. The new payment option offers businesses the choice of paying their premiums as part …

MassMutual, Hanover Among Top Donors to Baker’s Inaugural Committee

Massachusetts Gov.-elect Charlie Baker has collected more than $781,000 in donations from supporters to help pay for his inaugural celebrations. At least 16 companies and individuals have given $25,000, the self-imposed cap that Baker set for donations to his inaugural …

Hanover Names Lavey As Personal Lines President

The Hanover Insurance Group has named Richard Lavey as its new president in charge of personal lines coverage. He’s a veteran executive of the Massachusetts-based U.S. property/casualty insurer who initially came on board a decade ago. Lavey’s responsibilities will include …

Hanover Insurance’s Q3 Net Income Falls 10% to $55M

The Hanover Insurance Group Inc. reported $54.9 million net income for its 2014 third quarter, a 10.4 percent decline compared with $61.3 million net income during the third quarter of 2013. The Worcester, Massachusetts-based insurer’s earnings were dampened by what …

Hanover Insurance’s Q2 Profit Jumps 55% to $82.6M

The Hanover Insurance Group Inc. in Worcester, Massachusetts, said Thursday its 2014 second quarter net profit rose to $82.6 million, a 54.7 percent increase from $53.4 million profit during last year’s second quarter. The second quarter operating income was $58.4 …

Bankers Insurance Group Acquires AIX Florida Policies

Bankers Insurance Group has reached an agreement with AIX Group to acquire its Florida policies as part of a strategy to increase Bankers’ presence in the state’s Latino community. Under the terms of the deal, as of March 1, Bankers …

Denver Lawyer Loses Liability Over Medical MJ Practice

A Denver lawyer has lost her liability insurance because part of her practice involves representing medical-marijuana businesses. The Denver Post reported the Hanover Insurance Group told Ann Toney last month it wouldn’t renew her malpractice coverage. It sent a notice …